Cancellation And Exit Comments

Hello Geoff,

 

I switched from Comcast to Clearwire back in December and have had nothing but issues concerning connectivity.  My home is located within .5 mile of one of your towers with no obstructions and my machine always has 5 bars…. Always.

 

Yet, my ability to surf the internet on one computer at a time is spotty at best and extremely slow.  My family relies on streaming Netflix on our Xbox and we have not been able to enjoy that for more than a few weeks at a time despite being told when we signed up how well Clear works for such needs.  The reason we have been able to enjoy it that often during our time with Clear is because I would call and spend the better part of an hour on the phone with your tech folks whose only knowledge of how to fix the problem is the scientific method of rotating the machine and powering it off and back on.  My 7 year old can trouble shoot a machine in that manner due to handheld devices and smart phones…

 

The reason for my complaint is because your companies technique for sharing bandwidth is quite transparent and is for the lack of a better term a scam.  Each time that my automatic payment was deducted for my monthly service fee my bandwidth would slow immensely.  After struggling for several days I would place a call to your tech support line and they would run through the same worthless suggestions over and over.  After listening to me voice my opinion about how pathetic your internet connection is and having me visit speedtest.net to verify my speed is less than 1mbs they would “refresh” my connection and provide me with a better share of bandwidth.  Only to last until my payment came out again…  It’s because of this that I quickly deduced that your companies best practice involves only doing enough to keep people from cancelling and or taking advantage of those who don’t know any better. 

 

This practice is unethical and indicative of similar methods used by any other failed company.  Last Thursday I contacted Comcast and have since switched back to them and therefore the services of Clearwire will no longer be needed in my household.  I am certain that at this point you are wondering why I didn’t just call the phone number to customer service and cancel with them.  Well, I have read on many blogs that Clearwire is notorious for not cancelling the service upon request and continuing to charge the monthly fees to the cancelled clients long after the cancellation request and I am not willing to waste any more of my time with your company than is needed.  My hope is that at least this email can provide some better response and service than the other parts of you company.  I will use this email as my record to help support my defense when Clearwire takes another payment post my cancellation.

 

I also thought you might want to know that I have blogged about Clearwire on my blog and all of my social media sites as well.  In addition to that I will be putting this email up on there today and will be forwarding this email to all of my contacts.  I have never been so dissatisfied with a company in all my life as I am with Clearwire.  As a matter of fact I have never blogged negatively about any service or product until now. 

 

Just thought you should know.  Now, can you execute my cancellation or do I need to call the 888 number?  My last payment was taken out on 3/15/2012 and since it pays for the upcoming months service I will be expecting a pro-rated reimbursement starting from today.  If you need information to access my account it is all available in this email.  My name, phone number and email address that are all associated with my account are listed here.  Let’s see how useful this email address that you have listed on your website is in comparison with the rest of the company.

 

Thank you for your prompt action.   

 

 

 

 

 

The greatest compliment you can give is a referral!!

Click my picture to visit me on the web!

 

 

 

 

Mortgage Update From Allen Quinney

 

 

visit my website     email me now Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 For the week of January 9, 2012 – Vol. 10, Issue 2   >> Market Update  QUOTE OF THE WEEK..."Opportunities are disguised by hard work, so most people don't recognize them."--Ann Landers INFO THAT HITS US WHERE WE LIVE...The latest opportunity in real estate came December 28, when the Federal Housing Administration extended the waiver of its "anti-flipping" rule through the end of 2012. This lets homebuyers, who need FHA-insured financing, purchase homes that were bought by the seller in the last 90 days. And it gives investors looking to rehab and flip properties an expanded market, including first-time homebuyers and others without large down payments, who need FHA-backed loans. The Mortgage Bankers Association (MBA) reported that during 2011, near-record-low mortgage rates drove more homeowners to seek refinancing, moving that MBA index up more than 60%. But demand for purchase loans fell versus 2010, although that year's activity was boosted by the homebuyer tax credit incentives. BUSINESS TIP OF THE WEEK...It's great to get organized at the start of a new year. The key is to begin. Focus on just one project. Then break it down into smaller parts and accomplish one thing each day, or week, until done! >> Review of Last Week UP START...For investors, 2012 began in the right direction as stocks ended the first week of the year UP. But this result was due mainly to an upsurge on Tuesday that was big enough to offset tepid performances the next three days, when traders got jittery over Europe. Spain was in the spotlight again, with new player Hungary now adding to the financial uncertainty. The net result was a weaker Euro, falling about 0.6% to a new 16-month low of $1.27. Time to take that European vacation.   Encouragement came with manufacturing growing in December at its fastest pace in six months. Weekly initial jobless claims dropped again, to 372,000. The December employment report was an upside surprise, with 200,000 new nonfarm jobs showing up and the unemployment rate inching down to 8.5%. But a few observers were concerned there's probably some seasonality in those numbers. ISM Services, which tracks the sector responsible for over 80% of U.S. jobs, came in a little lower than expected, although still in growth territory. For the week, the Dow ended UP 1.2%, at 12360; the S&P 500 closed UP 1.6%, to 1278; and the Nasdaq gained 2.7%, to 2674. The bond market elicited mixed results for the week, with Treasuries trending lower, but continuing Euro worries supported prices elsewhere. The FNMA 3.5% bond we watch ended the week UP .78, at $103.05. Average fixed mortgage rates across the U.S. started the new year at or near record lows as tracked by Freddie Mac's weekly survey. DID YOU KNOW?..."Home on the Range" is one of the most famous songs with "home" in its title. It was written by Dr. Brewster Higley in 1876 and is the official state song of Kansas. >> This Week’s Forecast FED OPINIONS, HOLIDAY SHOPPING, EXPORTS AND CONSUMER FEELINGS... Wednesday, the Fed's Beige Book reveals views on the economy from Federal Reserve Districts around the country. Thursday will gauge the consumer's enthusiasm for holiday shopping, as measured by December Retail Sales, forecast to be up. The week ends with the November Trade Balance, expected to grow (not so good) and Michigan Consumer Sentiment, also predicted to increase (good). >> The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 9 – Jan 13  Date Time (ET) Release For Consensus Prior Impact W Jan 11 10:30 Crude Inventories 1/7 NA 2.209M Moderate W Jan 11 14:00 Fed's Beige Book Jan NA NA Moderate Th Jan 12 08:30 Initial Unemployment Claims 1/7 375K 372K Moderate Th Jan 12 08:30 Continuing Unemployment Claims 12/31 3.588M 3.595M Moderate Th Jan 12 08:30 Retail Sales Dec 0.4% 0.2% HIGH Th Jan 12 08:30 Retail Sales ex-auto Dec 0.4% 0.2% HIGH Th Jan 12 10:00 Business Inventories Nov 0.5% 0.8% Moderate F Jan 13 08:30 Trade Balance Nov -$44.3B -$43.5B Moderate F Jan 13 09:55 Univ. of Michigan Consumer Sentiment Jan 71.0 69.9 Moderate   >> Federal Reserve Watch    Forecasting Federal Reserve policy changes in coming months...Economists believe the Fed Funds Rate will stay at super low levels for awhile. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Jan 25 0%–0.25% Mar 13 0%–0.25% Apr 25 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Jan 25      <1% Mar 13      <1% Apr 25      <1%   This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2011 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, - lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe :: please DO NOT change the subject line of the email, send it as it is.

 

 

 

 

Allen Quinney MLO 213-518

253-722-8565 | aquinney@primelending.com

On the web  http://www.nwhomeloans.net

 

 

Facebook Marketing Tidbits From Allen Quinney

 

Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 my website 8 Things to Focus on for Facebook Marketing! Facebook is the biggest social network on the planet--more than 800 million active users. So you really can't ignore it in your online marketing strategy. Here are some tips to take your Facebook effort to the next level. 1. Don't stray from your topic. When people "Like" you on Facebook, they expect subsequent posts to relate to you and your industry. Here's how to keep the ideas coming: Think why you visit a page--you're looking for tips, an answer to a question or information you don't see elsewhere Tie a current event to your business Ask your audience to post pictures, stories or questions about your industry to your wall Repost the best content back out as an update Share a humorous YouTube video that connects to your industry 2. Drive traffic to your website. Don't bury your web address on the info tab where visitors can't find it--display it in several places. The first place to feature your web address is in the "About" field of the info tab. It's in the very visible left sidebar of your Facebook page. But only the first 80 characters are displayed before a "More" link appears. So put your web address first. 3. Give them a reason to become fans. Use a Reveal tab to offer first-time visitors a call to action. Encourage them to Like your fan page in order to receive a coupon, a free trial or special information. This is a great way to increase fan conversion rates while offering real value to becoming a fan.   4. Ask them questions. Be sure to make the questions interesting, even entertaining. It's a great way to get your Facebook fans talking. Go for questions that need just one-word answers or are otherwise easy to respond to. Best of all are questions about the fans--people love to talk about themselves. 5. Mark your milestones. When you reach a milestone, celebrate with your fans like you would with friends. Even if it's something small, pull your fans in and thank them. 6. Add a picture. Put one in every Facebook status update you can. Use pictures of yourself or your customers, employees and special events. And be sure to crop them...they'll be tiny on Facebook, so zoom in! There's really no such thing as a bad picture. 7. Work the network. Tap into your Facebook audience to get instant feedback, ideas on new products or services, insights on how to market better and which topics are trending with your audience. Be proactive! 8. Study the data. There are currently unmined volumes of data that have been crowd sourced through Facebook and other social media. Start experimenting with data mining, data-driven analysis and intelligence now, because that's where we're going. Learn how to use data to create more intelligent, more targeted and more effective marketing campaigns. Start using these tips to leverage the power of Facebook right away.... Enjoy a great month! This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2011 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, - lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe :: please DO NOT change the subject line of the email, send it as it is.

 

 

 

Allen Quinney MLO 213-518

253-722-8565 | aquinney@primelending.com

On the web  http://www.nwhomeloans.net

 

 

Mortgage Update From Allen Quinney

 

 

visit my website     email me now Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 For the week of January 2, 2012 – Vol. 10, Issue 1 Happy New Year! >> Market Update  QUOTE OF THE WEEK..."Of all the things you wear, your expression is the most important." --Anonymous INFO THAT HITS US WHERE WE LIVE...It's good to show your best face to the world as the new year begins (see Business Tip of the Week, below) and that just got easier to do. Last week's Pending Home Sales index from the National Association of Realtors (NAR) went UP 7.3% in November, hitting its highest level since April 2010! And that earlier reading was artificially boosted, as buyers rushed to beat the deadline for last year's home buyer tax credit. The NAR's chief economist commented, "Housing affordability conditions are at a record high and there is pent-up demand from buyers who've been on the sidelines.... The sustained rise in contract activity suggests that closed existing-home sales...should continue to improve in the months ahead." The S&P Case-Shiller index for October showed minor price drops in 19 of the 20 surveyed metro areas, but the index was UP 1.9% from its post-crisis low in March 2011. BUSINESS TIP OF THE WEEK...The new year is a great time to remember that successful people think positive. They're not unrealistic, but they do see the positive side of an opportunity and firmly believe in their ability to reach their goals. >> Review of Last Week GOODBYE, 2011!...The wild year on Wall Street ended not with a bang but a whimper, as stocks slumped slightly for the week on very light trading. Volatility was the theme for 2011, although when all was said and done, the broadly based S&P 500 stock index ended dead flat for the year. This reflects how many investors view the economy: recovering so slowly, its growth slope is practically horizontal. The year's volatility was echoed in a 140-point drop Wednesday followed by a 136-point surge the very next day.   The week's positive economic news included the Pending Home Sales gain covered above and initial jobless claims staying below 400,000 for another week. But none of this "good" news was very terrific, so economic emotions were held in check by the usual suspects: European debt worries and corporate underperformers. Sears announced it would close about 100 stores and American Airlines parent AMR Corp., which filed for bankruptcy protection last month, revealed its stock would be delisted from the Big Board.  For the week, the Dow ended down 0.6%, at 12218 but UP 5.5% for the year; the S&P 500 also dipped 0.6%, to 1258 but was unchanged for the year; and the Nasdaq dropped 0.5%, to 2605 and was down 1.8% for the year. Although it was a low volume week all around, the bond market behaved conventionally, prices heading north as stocks drifted south. The FNMA 3.5% bond we watch ended the week UP .95, at $102.27. According to Freddie Mac's weekly survey, national average fixed mortgage rates inched up from the prior week's record lows. But they're expected to stay in super low territory for awhile. DID YOU KNOW?...The FOMC Minutes released Tuesday give insight into the decision making process for monetary policy and what the Fed thinks about economic developments inside and outside the U.S. >> This Week’s Forecast MANUFACTURING, SERVICES, FED MINUTES, JOBS...The markets are closed today in observance of New Year's, but the rest of the week is packed with economic data. ISM Manufacturing on Tuesday should remain in expansion territory just like ISM Services on Thursday. Tuesday's FOMC Minutes from the Fed's December 13 meeting may provide useful insight. But the week's highlight will be Friday's December Jobs report.150,000 Nonfarm Payrolls should be added, which won't do anything to help the Unemployment Rate, expected to creep back up to 8.7%. >> The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 2 – Jan 6  Date Time (ET) Release For Consensus Prior Impact Tu Jan 3 10:00 ISM Index Dec 53.4 52.7 HIGH Tu Jan 3 14:00 FOMC Minutes 12/13 NA NA HIGH Th Jan 5 08:30 Initial Unemployment Claims 12/31 375K 381K Moderate Th Jan 5 08:30 Continuing Unemployment Claims 12/24 3.620M 3.601M Moderate Th Jan 5 09:45 ISM Services Dec 53.0 52.0 Moderate Th Jan 5 11:00 Crude Inventories 12/31 NA 3.899M Moderate F Jan 6 08:30 Average Workweek Dec 34.3 34.3 HIGH F Jan 6 08:30 Hourly Earnings Dec 0.2% -0.1% HIGH F Jan 6 08:30 Nonfarm Payrolls Dec 150K 120K HIGH F Jan 6 08:30 Unemployment Rate Dec 8.7% 8.6% HIGH   >> Federal Reserve Watch    Forecasting Federal Reserve policy changes in coming months...The expectation is for the Fed Funds Rate to remain at its rock bottom level well into the future. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Jan 25 0%–0.25% Mar 13 0%–0.25% Apr 25 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Jan 25      <1% Mar 13      <1% Apr 25      <1%   This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2011 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, - lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe :: please DO NOT change the subject line of the email, send it as it is.

 

 

 

 

Allen Quinney MLO 213-518

253-722-8565 | aquinney@primelending.com

On the web  http://www.nwhomeloans.net

 

 

Mortgage UPdate From Allen Quinney

 

 

visit my website     email me now Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 For the week of December 27, 2011 – Vol. 9, Issue 52 Happy New Year! >> Market Update  QUOTE OF THE WEEK..."...never retreat, never retract...never admit a mistake."--Napoleon Bonaparte INFO THAT HITS US WHERE WE LIVE...Wisely, the National Association of Realtors (NAR) did not follow the diminutive Emperor's advice last week, admitting they uncovered some mistakes in the statistical model used to estimate national Existing Home Sales the past few years. They therefore had to revise those sales down 14%, to a 4.42 million annual rate in November. Nevertheless, Existing Home sales were UP 4% for the month and UP 12% versus a year ago. And the inventory is down 18% versus last year, now at a 7 months' supply! In line with that, Housing Starts were UP 9.3% for November and UP 24.3% versus a year ago, while Building Permits were UP 5.7% for the month. November New Home Sales came in Friday UP 1.6%, with the supply dropping to 6 months, its lowest level since early 2006! The numbers of unsold new homes under construction and unsold completed new homes are also at or near record lows. The FHFA price index for homes financed by conforming mortgages was down just 0.2% in October and is down only 2.8% versus a year ago. BUSINESS TIP OF THE WEEK...Start on a goal right away. Get the momentum going by taking action immediately--flesh out the schedule, reserve important dates, get delivery commitments from others. >> Review of Last Week SANTA CAME EARLY...It was a little early for a "Santa Claus rally" (see below), but it sure seemed like the big man in red was giving Wall Street investors a nice holiday gift--to wit, a better than 3.5% weekly gain in stock prices, recouping the prior week's slide. Recent European worries were assuaged by improving German sentiment data, an encouraging Spanish bond auction and the European Central Bank's Long-term Refinancing Operation (LTRO), which promised greater stability in the region, at least for awhile.   We also had better economic news on our side of the pond. Initial jobless claims dropped to 364,000, the lowest level since April 2008, and continuing claims dropped to 3.55 million, the lowest since September 2008. Durable Goods orders were up 3.8% in November, beating expectations. On the inflation front, Core PCE Prices were up just 0.1% in November and well within the Fed's target range, at 1.7% for the year. But Q3 GDP was revised down to a sobering 1.8%. For the week, the Dow ended UP 3.6%, at 12294; the S&P 500 shot UP 3.7%, to 1265; and the Nasdaq went UP 2.5%, to 2619. As stocks soared, it was a tough week in the bond market. The FNMA 3.5% bond we watch ended the week down .90, to $101.32. But national average fixed mortgage rates remained at or near their all-time record lows according to Freddie Mac's weekly survey. DID YOU KNOW?...A "Santa Claus rally" is a rise in stock prices that sometimes occurs the week after Christmas. It often anticipates the "January Effect"--a rise in stock prices the first month of the year. >> This Week’s Forecast YEAR ENDING ON HOME SALES PENDING...Thursday's Pending Home Sales for November, indicating how actual sales might go the next few months, should be up slightly. December Consumer Confidence is also forecast up a bit, perhaps due to the slowly improving jobs picture, with weekly Initial Unemployment Claims predicted to remain below 400,000. The Chicago PMI, a bellwether for manufacturing overall, is expected to stay in expansion mode. Next Monday, January 2, 2012, the stock market will be closed in observance of New Year's Day. May the coming year bring all the best to you and yours! >> The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Dec 26 – Dec 30  Date Time (ET) Release For Consensus Prior Impact Tu Dec 27 10:00 Consumer Confidence Dec 58.0 56.0 Moderate Th Dec 29 08:30 Initial Unemployment Claims 12/24 368K 364K Moderate Th Dec 29 08:30 Continuing Unemployment Claims 12/17 3.600M 3.546M Moderate Th Dec 29 09:45 Chicago PMI  Dec. 60.1 62.6 HIGH Th Dec 29 10:00 Pending Home Sales Nov 0.6% 10.4% Moderate Th Dec 29 11:00 Crude Inventories 12/24 NA -10.570M Moderate   >> Federal Reserve Watch    Forecasting Federal Reserve policy changes in coming months...There are virtually no economists who expect the Fed to hike the Funds Rate any time in the near future. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Jan 25 0%–0.25% Mar 13 0%–0.25% Apr 25 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Jan 25      <1% Mar 13      <1% Apr 25      <1%   This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2011 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, - lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe :: please DO NOT change the subject line of the email, send it as it is.

 

 

 

Allen Quinney MLO 213-518

253-722-8565 | aquinney@primelending.com

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